How to avoid backing a faller in-running

[MIYAGI52]

Hi, I wish to automate backing a horse when it drifts in-play and reaches a certain price. If I ask for the bet as soon as the race goes in-play I am subject to the price matching if there is a faller.
So I have automated:
Place a back bet
-conditions last traded price is greater than SP plus 20 ticks
and last traded price is less than SP plus 40 ticks

Will this avoid backing a horse if it falls? I'm assuming the price will have shot past these parameters.
Or is there a better way?

[LinusP]

Turn off best price execution.

[MemphisFlash]

how can you predict a horse will or will not fall. Impossible.
Just accept at some point you will have losers.

[MIYAGI52]

I am only trying to make sure the initial automated back bet doesn't get placed after a horse has fallen. I know that once my bet has been taken anything can happen.

[jamesedwards]

The last traded price of a faller will likely curve very quickly from current odds to 1000. It won't go straight from current odds to 1000.

So you would need to check prices in two separate steps. eg;
1) current price is above your set threshold
2) a second or so later, check that the price is lower than 1000.

Then place your bet.

[MIYAGI52]

Excellent idea, thank you.

[ShaunWhite]

Hi, I wish to automate backing a horse when it drifts in-play and reaches a certain price. If I ask for the bet as soon as the race goes in-play I am subject to the price matching if there is a faller.
So I have automated:
Place a back bet
-conditions last traded price is greater than SP plus 20 ticks
and last traded price is less than SP plus 40 ticks

Will this avoid backing a horse if it falls? I'm assuming the price will have shot past these parameters.
Or is there a better way?

If the price has massively drifted then your 2nd condition (ltp<sp +40) should stop it being placed.

[ShaunWhite]

The last traded price of a faller will likely curve very quickly from current odds to 1000. It won't go straight from current odds to 1000.

So you would need to check prices in two separate steps. eg;
1) current price is above your set threshold
2) a second or so later, check that the price is lower than 1000.

Then place your bet.

2) and that the price > threshold still.